Changes at Crossland & Deep Discount

S

Swan Noir

Good Morning,

It is a pleasure working with you at Crossland LLC and we do appreciate your business.

Due to volatile market conditions, we wish to inform all clients of the new funding policy at Crossland LLC. All accounts initial deposit will be $5,000.00 and the customer must maintain > $2,000.00 in their account at all times. If your account balance falls below $2,000.00, you will be required to refund back up to $5,000.00
 
If you are consistently profitable trading 1 to 5 contracts per trade, it makes scant sense to have more than $10K (depending upon the instruments of course) sitting on balance with your clearing firm. $5K is a good size deposit for someone trading small with good risk management in place.
 
I must be part of the 10% then (so far). I actually trade with Crossland and DDT, and opened my account with $8k, and so far I'm profitable. I guess I could always join the 90% later. :D

I for one am glad though that there are options for smaller retail traders like myself who have been profitable in sim but are ready to try live trading finally. If every broker had a $25k minimum then I may never have been able to put myself to the test.
 
Look I understand your point -- having a larger account allows you to lose longer, which gives you more time to find and refine a trading system. But it's not a guarantee that you will.

In fact, I think futures trading is a great opportunity for the less fortunate among us. I mean, if you already have $5 million -- especially $5 million you can afford to "gamble" with -- then why not just keep doing whatever gave you that money in the first place? I know I would! I'm here because I do NOT have an alternative to make money. I don't have a fancy degree or some high-tech skills that people will pay me well for, and I'm too old to get them at this point. So if I have $10k I can spare, you tell me, how should I use it to try and acquire wealth? Put it in a savings account? Give it to someone at Edward Jones? Stick it in a mutual fund or ETF? Please. Futures trading is one of the last frontiers of pure capitalism, where the barriers for entry are low and the potential for rewards are high. No, it doesn't work for most people in the long run. It may not work for me. But I'd rather use that $10k to at least TRY to make a living for myself through trading, than stick it in a CD earning 1% interest and pat myself on the back for "playing it safe".
 
Quote from Lightweight:


, if you already have $5 million -- especially $5 million you can afford to "gamble" with -- then why not just keep doing whatever gave you that money in the first place?
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Boredom to begin with.

Besides risking would be a more accurate wording than gambling, and a business owner is often risking money anyway, be it in financial or other markets.

Also is DDT really targetting small retail customers ? I was a bit surprised reading the OP
 
Quote from luisHK:

Boredom to begin with.

Besides risking would be a more accurate wording than gambling, and a business owner is often risking money anyway, be it in financial or other markets.

Also is DDT really targetting small retail customers ? I was a bit surprised reading the OP
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Hence the quotation marks....

So only bored multi-millionaires should trade eh? Good luck with your liquidity in that universe.
 
Diversification would come pretty high along boredom. Don't mix me up with Emg btw, I was answering a point you raised rather than agreeing with Emg, who seems to be on an obsessive crusade.
 
Quote from luisHK:

Diversification would come pretty high along boredom. Don't mix me up with Emg btw, I was answering a point you raised rather than agreeing with Emg, who seems to be on an obsessive crusade.
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Yes that was the impression I got of him as well. :)
 
small traders think getting all "pumped up" will help them rip the market's face off!!! SELL 1 ES....bang, bang...up $12.50. covered. haha. after commissions.....let's say $8. next trade...immediately down $200. sell more!!! down $800....one minute before close....deep sweat, must close. if i didn't have to close i would be rich tomorrow!!! idiots. and all those set-ups they didn't take would have been golden.

retail traders watch movies, sports, and are so self-dellusioned that they think money will magically show up at their front door. but get so frustrated their brain just isn't good enough for the market noise.

i've been there.....10 years ago. i don't call myself a trader anymore, even if an investment last year paid off 100k. not trading.

small traders will all lose.....so just send me your money instead.

10k....let's all band together and start a fund!!!

lol
 
Quote from luisHK:


Also is DDT really targetting small retail customers ? I was a bit surprised reading the OP
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DDT, probably... Crossland Directly? no... last I checked you needed at least $25K with CRS directly... but DDT is an IB(Broker) introducing to CRS, and all accounts with DDT are served by Howards(single guy shop)...
 
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